Barry Silbert Says 99.9% of Crypto Tokens Are Worthless, Still Bullish on Bitcoin and Privacy Coins

Digital Currency Group founder Barry Silbert recently made a bold statement during an appearance on "The Journeyman" podcast with Raoul Pal, claiming that 99.9% of all cryptocurrency tokens are essentially worthless. Reflecting on his journey in the crypto space since buying Bitcoin in 2011 at just $7, Silbert emphasized that most tokens lack real purpose or utility. “Over the last 13 years…99.9% of crypto tokens that are out there have no reason to exist and are worthless,” he stated, adding that his standards for getting excited about new projects are now “really, really high.”

Despite his skepticism about most digital assets, Silbert remains optimistic about Bitcoin and privacy-focused cryptocurrencies like Zcash. He noted that financial privacy will become increasingly important, saying, “People are going to realize financial privacy is important to them…there’s a version of Bitcoin that’s private.” This aligns with his continued belief in the long-term value of decentralized, privacy-preserving technologies.

Silbert also reflected on his early days in crypto, recalling how he initially felt like a genius for buying Bitcoin but had doubts when prices plummeted. He eventually chose to back companies building around Bitcoin—including Ripple—but later admitted that simply holding Bitcoin would have yielded better returns. “Had I just held on to the Bitcoin, I actually would have done better than making those investments,” he said.

Silbert’s comments highlight a growing sentiment among crypto veterans that while innovation continues, only a handful of digital assets offer lasting value. As the market matures, the focus is shifting back to Bitcoin and core technologies with real-world utility and long-term potential.